Regular Savings Accounts: The Best Currently Available List!

Frogletina

friolento said:

Frogletina said:

Frogletina said:

Frogletina said:

jameseonline said:

Got my money out of Nationwide and into Santander but can't seem to move it internally into the savings account I want it in, meh.

Also it seems I'm too early to apply for the Nationwide Flex Issue 3.

I've closed the regular saver but the money has not yet arrived into my Santander account. I'm hoping it will be there in the morning

Money was not in my Santander account this morning. I sent it via my nominated account - I wish I had sent a test payment first. Apparently, according to Nationwide, Santander have rejected it due to a mismatch in the name, although Santander cannot find the rejected payment. It left Nationwide with my first and second name but Nationwide can see the rejection as only showing my surname! Santander asked me to get the faster payment reference, but when I did and rang them back, they said it was too early to see it on their systems. 

Nationwide cannot do a recall until Monday. I have used the same nominated account before. I've just now amended it to show my full name including middle name, and sent a £1 from Santander to my flex account and returned it via my nominated account without a problem. 

I've now raised a complaint regarding this missing payment from Nationwide..

Checking today I've found another missing payment to Santander, this time from Beehive which I will raise in the morning. When my Beehive regular saver matured in August, the balance was transferred to an online saver account and from there I transferred most of the balance to Santander via my nominated account, leaving £10 now in the online savings account. However, there has since been an interest payment which I transferred to Santander, using the same nominated account on 20 September but that payment has not arrived. I will raise this tomorrow as a missing payment with Beehive. 

I've another Beehive account maturing soon, so I'm worried about that going missing too.

I use Santander as my hub for all of my regular savers, and have done for several years. I've never had a problem like this before. This month I've had the two Monmouthshire regular savers and the YBS regular saver mature with no problems at all.

I suspect your money has automatically been placed by a fraud algorithm into some Santander suspense account from where it will be released as and when a human (?) has verified that its not a fraudulent transaction. 

With the new APP scam reimbursement rules, the sending and receiving bank now need to share the reimbursement amount. Unsurprisingly, banks will try to reduce their liability, so are now also checking / blocking incoming payments. In the case of Santander, we can but hope that their incoming payments fraud algorithm hasn’t been coded by the same people as their outgoing payments one 🤞

How this all sits with “by the end of the next business day” rule for faster payments, I don’t know but I am sure we will find out over time 

Good luck with getting some sense out of Santander, and your money into your account 

Thank you friolento  

I woke up this morning to find the money from Beehive was in my Santander account, which was good.

This afternoon my missing Nationwide RS money was in my flex account with the description of sundries. I rang Nationwide to check if it was now ok to transfer it, and asked the advisor what the problem had been, but he could not tell me. He also said he could not pass me to the complaints team.

He advised me to contact Santander but I advised him that they would not discuss it with me. He asked if I was sure that my nominated number was correct before transferring again, but as I'd already had done a £1 transfer the other day, I knew there was not a problem there. 
 
So I decided to chance it and by the time I had logged onto Santander, the payment had arrived.

Another thing to add is that I had applied for the Santander regular saver last week but decided not to go ahead as they wanted documentation sent via post - I was given 30 days (I think) to send it, but lo and behold, I got an email later this afternoon saying it was now open!

All in all, a good day

frogletina

londoner62

For those of you with a maths/excel-formulae mind set, who have made their own calculators to determine interest to be earned (and I do realise there are plenty of calculators ready made that work it out pretty accurately if you are going to deposit the same amount each month), can you PM me please if you can point me in the right direction of a calculation or calculator that will enable me to work out projected final interest when various amounts are deposited throughout the year?

Many thanks for taking the time to read this and getting back to me if you do!

soulsaver

londoner62 said:

For those of you with a maths/excel-formulae mind set, who have made their own calculators to determine interest to be earned (and I do realise there are plenty of calculators ready made that work it out pretty accurately if you are going to deposit the same amount each month), can you PM me please if you can point me in the right direction of a calculation or calculator that will enable me to work out projected final interest when various amounts are deposited throughout the year?

Many thanks for taking the time to read this and getting back to me if you do!

Best advised to start a specific thread with an overview linking to it here, IMO.

I, for one, would be interested in the responses but many will prefer that this thread isn't filled up with Spreadsheet bumpf...

Bridlington1

liamcov said:

Bridlington1 said:

Just a reminder the Principality BS interest rate reductions come into effect tomorrow. Of note:

Account	Old rate	New rate
Principality BS 1 Year Triple Access Regular Saver	6.00%	5.75%
Principality BS Dylan Young Saver	4.00%	3.75%
Principality BS First Home Steps Account	5.25%	5.00%
Principality BS First Home Steps Account Issue 2	5.25%	5.00%
Principality BS First Home Steps Account Issue 3	5.25%	5.00%
Principality BS First Home Steps Account Issue 4	5.25%	5.00%
Principality BS First Home Steps Online	5.25%	5.00%
Principality BS First Home Steps Online Issue 2	5.25%	5.00%
Principality BS First Home Steps Online Issue 3	5.25%	5.00%
Principality BS Gift Saver	4.60%	4.35%
Principality BS Learner Earner (Issue 1 & 2)	5.75%	5.50%
Principality BS Learner Earner Issue 3	4.70%	4.45%
Principality BS NHS Thank You Online Saver	4.20%	3.95%
Principality BS NHS Thank You Saver	4.20%	3.95%
Principality BS School Staff Saver	4.45%	4.20%
Principality BS Thank You Online Saver (Issues 1 to 4)	4.45%	4.20%
Principality BS Thank You Saver (Issues 1 to 4)	4.45%	4.20%

Is this for existing accounts too?

Anyone who holds those accounts will have seen their rates drop on 12/9/24. The rates that are listed on their website should be correct and there are no further rate cuts planned AFAIK.

jd84

RE: Coventry FHS

I've somehow got both issues open...

Bridlington1 said:

It only requires £1 to open so I'd be inclined to speculatively open it with £1 if I didn't already have issue 1 alive and well.

I see they currently say:

This is a limited issue account and you can only be named on one First Home Saver account at a time, including any other versions - we will close any extra account(s) that you open.

You can only open and be named on one First Home Saver (including any subsequent issues) at any one time.

Not sure if they've changed their eligibility rules at some point, or if I've slipped through the net somehow. Never really used the 2nd much to be fair.

Have had them close a few regular savers after opening multiple consecutive issues, but it did take them a long time, and they still paid the interest to date of closure, so cannot grumble.

Special_Saver2

Hi Folks,

I have just updated the first page of this thread. 

Many thanks to Kim_13 for finding the line in the account terms and conditions for the Progressive BS Online Regular Rainy Day Saver Account (Issue 2) showing that it is effectively a 12 month regular savings account. The interest rate along with the terms and conditions mean that it is not a good enough account to meet my criteria in the first post for inclusion on page 1 of this thread, so I have just removed it.

I cannot find anything else that has changed.

I will do the next update within the next 2 weeks.

SS2

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For those new to this thread, the first few posts are regularly updated and are on the first page
https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p1

chris_the_bee

Special_Saver2 said:

Hi Folks,

I have just updated the first page of this thread. 

Many thanks to Kim_13 for finding the line in the account terms and conditions for the Progressive BS Online Regular Rainy Day Saver Account (Issue 2) showing that it is effectively a 12 month regular savings account. The interest rate along with the terms and conditions mean that it is not a good enough account to meet my criteria in the first post for inclusion on page 1 of this thread, so I have just removed it.

I cannot find anything else that has changed.

I will do the next update within the next 2 weeks.

SS2

---

For those new to this thread, the first few posts are regularly updated and are on the first page
https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p1

Stafford Railway BS has renamed itself The Stafford BS
Mansfield Bonus Regular Savings (8th Issue) is a two year account

WillPS

chris_the_bee said:

Mansfield Bonus Regular Savings (8th Issue) is a two year account

It's actually not got a fixed maturity at all, but the 'bonus' rate only lasts 12 months - after which it falls back to the underlying rate (presently 4%). To all intents and purposes it's a 12 month account, with the caveat that it'll need to be manually closed down after 12 months; they won't contact you to tell you it is maturing. (They might contact you to say the bonus rate is ending, I don't know.)

35har1old

Special_Saver2 said:

Hi Folks,

I have just updated the first page of this thread. 

Many thanks to Kim_13 for finding the line in the account terms and conditions for the Progressive BS Online Regular Rainy Day Saver Account (Issue 2) showing that it is effectively a 12 month regular savings account. The interest rate along with the terms and conditions mean that it is not a good enough account to meet my criteria in the first post for inclusion on page 1 of this thread, so I have just removed it.

I cannot find anything else that has changed.

I will do the next update within the next 2 weeks.

SS2

---

For those new to this thread, the first few posts are regularly updated and are on the first page
https://forums.moneysavingexpert.com/discussion/6106986/regular-savings-accounts-the-best-currently-available-list/p1

Market Harborough offering 6% fixed  rate to a date in Nov 25.
If searching by phone the regular saver isn't easily found 

WillPS

Market Harborough 6% (fixed), with credit to @35har1old above

https://mhbs.co.uk/my-membership/exclusive-products/fixed-term-regular-saver-1yr01/

• Save between £10 – £250 a month
• Annual interest paid on maturity
• You must make regular monthly deposits 
• Even with a penalty early withdrawals are not allowed (closure is not permitted either)
• Initial deposit must be received with 10 days of opening the account

Matures end of November 2025.